Banking & Finance

Fiduciary rule discussion raising expectations

Effect has been beneficial, even if ruling is overturned

April 13, 2017

Last year, the Department of Labor issued a new ruling requiring that most financial professionals who provide advice on retirement investments must act as fiduciaries, meaning that they are legally and ethically required to act in the best interest of th

WSU adds to research, innovation capabilities in Spokane

New commercialization office hire staying busy

April 13, 2017

LeAnn Bjerken

Washington State University's Office of Commercialization has added a new position to the university's Spokane campus, establishing its first point of contact here for researchers hoping to develop and market new technologies in life science fields.

Advisors Mortgage duo embraces team approach

Lenders cite market impact of low inventory, rising rates

April 13, 2017

LeAnn Bjerken

As the Spokane real estate market continues to heat up, lenders here at The Advisors Mortgage Co. say they're preparing for added competition in mortgage loans. 'The current market is definitely a seller's market,â€ says Blaine Rolstad, branch ma

Post acquisition, Merriman Wealth mines for clients in Spokane

Company absorbed former Summit Capital last year

April 13, 2017

Traditionally, journalists haven't been recognized as a financially savvy lot; however, one local financial adviser points to a one-time business columnist for the publication Barron's Magazine as having helped him shape his long-term investment strat

Riding the cycles: Monitor rates, stay diversified

Long-term results moot if you falter in short term

April 13, 2017

Michael Maehl

Currently, we're trading near the all-time highs of the U.S. stock market, while the bond market continues near its all-time lows. This cyclicality aspect of the markets is leading many to conclude that the time may be coming near for them to trade plac

Wheatland Bank expands its mortgage division

30 percent increase in total staff anticipated this year

April 13, 2017

Mike McLean

Spokane-based Wheatland Bank has expanded its mortgage division downtown. The home loan division, led by Troy Sims, senior vice president and director of residential lending services, has a team of 15, including six residential lenders and support staff,

Cheney credit union develops West Plains branch

Membership has expanded 17 percent since early 2013

April 13, 2017

Mike McLean

Cheney Federal Credit Union has started construction on its second branch, which will be located at the south corner of Westbow Boulevard and Aero Road, near the Interstate 90-Medical Lake interchange, says JoAn Sanders, CEO of the credit union. The 2,70

Washington Trust Bank parent posts strong growth in net income

Company sees increases in assets, loans, deposits

March 30, 2017

LeAnn Bjerken

WTB Financial Corp., the Spokane-based parent of Washington Trust Bank, has reported significant full-year growth, with increases in net income, loans, deposits, and assets, for 2016. The company reported net income of $52 million for last year, up from

ICM Asset Management partners go separate directions as rumors swirl

Ex-employees have formed new financial advisory firm

March 30, 2017

A split between two former partners at a longtime, Spokane-based investment firm has led to the creation of a new firm here, with the previous company continuing to maintain $145 million in client investments under management. Jim Simmons, CEO of 35-year

Financial discipline serves Union Gospel Mission

Nonprofit stays debt free, owns facilities, director says

March 16, 2017

Chris Street

In Spokane, the homeless population is served by several charities, including Union Gospel Mission, started in 1951. How does a 66-year-old charity survive? The answer lies in multiple revenue streams, a tightly managed foundation, a strong marketing ef